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Frameworks for product differentiation, team building, and thinking from first principles | Ayo Omojola (Carbon Health, Cash App)

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May 14, 2023

Guest

Ayo Omojola

Ayo Omojola, Chief Product Officer at Carbon Health and former PM leader at Cash App, shares his insights on product innovation and team dynamics. He reveals how Cash App carved its niche in a crowded market and argues that small teams often outperform larger ones. Ayo emphasizes the value of first-principles thinking and the importance of building connections in your network. He offers practical advice for health tech founders, focusing on strategic hiring and creating products that genuinely meet consumer needs.

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Transcript

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Episode notes

insights

INSIGHT

Cash App's Growth

Cash App grew from under 50,000 monthly active users to over 50 million during Ayo Omojola's tenure.
This growth was driven by a combination of factors, including instant transactions and strong design.

question_answer

ANECDOTE

Quora for Discoverability

Ayo Omojola used Quora to drive discoverability for his print and mail app, Mailform.
He answered over 100 questions related to shipping to connect with potential users.

insights

INSIGHT

Importance of Differentiation

Differentiating your product is crucial, especially in consumer apps.
Cash App achieved this with instant transactions, a feature unavailable in competing apps like Venmo.

Get the Snipd Podcast app to discover more snips from this episode

Navigating Entrepreneurial Journeys and Product Differentiation

04:13 • 15min

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From Fintech to Health Innovation

19:07 • 8min

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Cultivating Connections and Team Dynamics

26:56 • 4min

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Networking and Navigating Healthcare Innovation

30:55 • 14min

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An Overview of Carbon Health's Integrated Healthcare Model

44:48 • 2min

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Rapid Recommendations and Reflective Hiring

47:00 • 5min

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A Fire upon the Deep

Vernor Vinge

In 'A Fire Upon the Deep', Vernor Vinge explores a vast universe divided into 'zones of thought' where the potential of intelligent life varies greatly. The story begins with a human expedition that awakens a destructive artificial intelligence, the Blight, which threatens to destroy entire civilizations. Two children, Jefri and Johanna Olsndot, escape the initial destruction but are captured by the Tines, an intelligent dog-like alien species with a hive mind. Meanwhile, Ravna Bergsndot, an intergalactic librarian, and her companions embark on a perilous rescue mission to save the children and recover an artifact that could stop the Blight. The novel is renowned for its complex world-building, unique alien cultures, and blend of hard science fiction and high drama[1][2][5].

Stormlight Archive

Brandon Sanderson

Children of time

Henry Maxwell

Children of Time is a book by Henry Maxwell, published in 1967. Due to limited information, specific details about the book's content or themes are not available.

The Three-Body Problem

None

Cixin Liu

Cixin Liu's 'The Three-Body Problem' is a critically acclaimed science fiction novel that blends hard science with compelling storytelling. The story follows a group of scientists who make contact with an alien civilization, leading to unforeseen consequences for humanity. Liu's intricate world-building and exploration of complex scientific and philosophical themes have earned him widespread recognition. The novel is known for its ambitious scope and its exploration of the potential challenges and dangers of encountering extraterrestrial life. It's a thought-provoking work that has captivated readers worldwide.

Brought to you by Microsoft Clarity—See how people actually use your product | Eco—Your most rewarding app | LMNT—Zero-sugar hydration

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Ayo Omojola is Chief Product Officer at Carbon Health, one of the fastest-growing and most innovative health tech companies in the world. Previously, he was a PM leader at Cash App, where he co-created the Cash Card and scaled it to a nine-figure revenue line for Square. He’s also an angel investor in companies like Mercury, Modern Treasury, Faire, and many others. In this episode, we discuss:

• How Cash App broke through the noise and became a consumer app success story

• Why small teams are better than big ones

• Hard-won lessons on team building and hiring

• Why it’s “criminal” not to connect people in your network to things that they need

• Why you sometimes shouldn’t listen to experts

• The importance of first-principles thinking

• Advice for health tech founders

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Find the full transcript at: https://www.lennyspodcast.com/frameworks-for-product-differentiation-team-building-and-thinking-from-first-principles-ayo-omojola-carbon-health-cash-app/#transcript

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Where to find Ayo Omojola:

• Twitter: https://twitter.com/ay_o

• LinkedIn: https://www.linkedin.com/in/omojola/

• Blog: https://kunle.app/

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Where to find Lenny:

• Newsletter: https://www.lennysnewsletter.com

• Twitter: https://twitter.com/lennysan

• LinkedIn: https://www.linkedin.com/in/lennyrachitsky/

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In this episode, we cover:

(00:00) Ayo’s background

(04:13) The story of how Ayo used Quora for discoverability

(06:44) The scale of Cash App

(07:37) What Cash App did well

(10:12) Lessons from building consumer apps

(13:08) Why it’s so important to be different

(14:08) What Ayo learned from how Square/Block operates

(16:36) How to succeed at building a startup within a startup

(19:06) How Ayo transitioned from fintech to health tech

(22:51) Why Ayo loves hiring founders

(28:32) Team-building strategies

(32:12) The importance of going deep and challenging assumptions

(36:58) Why you should always ask questions

(38:45) Lessons in leadership

(41:43) Advice for founders in the health-care space

(44:48) What Carbon Health is

(46:58) Lightning round

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Referenced:

• Ayo on Quora: https://www.quora.com/profile/Ayo-Omojola

• Carbon Health: https://carbonhealth.com/

• Cash App: https://cash.app/

• Lob: https://www.lob.com/

• Mailform: https://www.mailform.io/

• Venmo: https://venmo.com/

• PayPal: https://www.paypal.com/us/home

• Apple Cash: https://www.apple.com/apple-cash/

• Square: https://squareup.com/us/en/home/

• Block: https://block.xyz/

• Pinwheel: https://www.pinwheelapi.com/

• The Three-Body Problem: https://www.amazon.com/Three-Body-Problem-Cixin-Liu/dp/0765382032

• Children of Time: https://www.amazon.com/Children-of-Time

• Children of Memory: https://www.amazon.com/Children-Memory-Adrian-Tchaikovsky/

• Children of Ruin: https://www.amazon.com/Children-Ruin-Time-Adrian-Tchaikovsky/

• Stormlight Archive: https://www.amazon.com/Stormlight-Archive-Boxed-Set-Books/

• Fire in the Deep: https://www.amazon.com/Fire-Deep-Robert-J-Miller/

• War of the Worlds on Amazon Prime: https://www.amazon.com/gp/video/detail/amzn1.dv.gti.49a287c2-44ed-4ffc-afa0-fab86dd0d31d

• Succession on HBO Max: https://play.hbomax.com/player/urn:hbo:episode:GWukCJAu0e4uHwwEAAAB5

• No Context Succession on Twitter: https://twitter.com/nocontextroyco

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Production and marketing by https://penname.co/. For inquiries about sponsoring the podcast, email podcast@lennyrachitsky.com.

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Lenny may be an investor in the companies discussed.

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